Crypto Adoption Intensifies: Venezuela Accepts Bitcoin As Payment

The crypto mass adoption has been one of the most important goals that the crypto industry set, and they’re have been made successful moves towards the achievement of this crucial aim.

These moves continue, and there’s increased interest in Bitcoin and crypto these days, while we’re in the middle of a massive global economic crisis that has been triggered by the coronavirus pandemic.

Bitcoin continues to be seen as a store of value and a safe haven these days, despite the massive volatility of the crypto market.

The truth is that during the past month, the volatility levels dropped.

At the moment of writing this article, Bitcoin is trading in the green and the most important coin out there is priced at $9,229.01.

Venezuela accepts BTC as payment

Venezuelan citizens who are abroad can use Bitcoin in order to pay for passport services, according to the latest reports.

According to BTC transaction images that have been posted on Twitter by Ronny Martinez, an engineer who is hosting an academic YouTube channel, the Venezuelan government is allowing Bitcoin as a payment option for passport renewals and extensions via the online immigration platform SAIME (Administrative Service for Identification, Migration and Foreigners).

The latest reports coming from the online publication the Daily Hodl reveal that SAIME has not officially confirmed Bitcoin as a payment method for passport services, but there are images from the online portal that are showing that BTC is an option along with an upcoming tab for payments via credit cards such as Visa, Mastercard and American Express.

currency money wealth finance business bitcoin - Crypto Adoption Intensifies: Venezuela Accepts Bitcoin As Payment

It’s been also revealed that credit card payments used to be accepted but now they don’t seem to be supported anymore.

SAIME allows users to complete their crypto payments in eight minutes.

“Dear user, you selected payment with cryptocurrencies. Please keep in mind that you will only have 8 minutes to complete the transaction, so we recommend that you have your payment method on hand and facilitate the process without problems. Thanks for your understanding,” according to the official notes.


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CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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